The Reno/Sparks Association of Realtors came out with their monthly market report. This report covers the real estate stats for February 2013.
The full report can be viewed by clicking the picture to the right. Below are the cliffs…
- Median sales price rose to $190,100 after a January drop. This is up 23.5% since February 2012.
- The average sold price per sqft. is $109.
- Sold units were up from January but still down compared to fall of 2012 due to low inventory.
- There were 462 new listings with over 60% being regular sales.
- Months supply of inventory is 3.9 months. Making it a ridiculous sellers market.
Summary: The bidding wars won’t end anytime soon.
For more information on buying a home in this market or what your home is worth contact Broker Ricky Beach at (775) 750-1437 or Ricky@Resnv.com